Verdict- Neutral.
DCE Jan24 contract corrected as expected. However, the market saw a rebound in the afternoon session. Hourly slow stochastic KD created gold cross in oversold area. Hourly CCI entered neutral area. Hourly MACD still widened in bearish territory. Iron ore potentially saw a short-run exhaustion and stablise at current level without further breakdown the support at 825.5.
First support 812.5. First resistance 854.0.
